Loan Comparison: 2.68% vs 6.5%
3050 Springbriar Drive, Castle Rock, CO 80109 · 4bd/3ba · $685,000
List Price
$685,000
Assumable Rate
2.68%
Remaining Balance
$331,037
Equity Gap
$353,963
Loan Type
VAAdjust Your Scenario
$34,250
$34,250$353,963
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 2.68% + gap loan
$3,575/moAssumed loan: $1,339/mo
Gap financing: $2,235/mo
$539less per month with the assumable
Your Savings on This Property
3050 Springbriar Drive, Castle Rock · 2.68% VA vs 6.5% conventional
$539
per month
$6,462
per year
$193,866
over 30 years
$193,866
interest saved
How gap financing works: The equity gap ($353,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($319,713 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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